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MB0035-Legal_Apects_of_Business-_Model_Question_Paper -...

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Section –A 1 mark 1 An agreement becomes enforceable only when it is coupled with a) legal obligation b) moral obligation c) social obligation d) duty obligation 2 -----------------of the parties would render the agreement entered into between them unenforceable in a court of law. a) person capability b) legal disability c) understandability d) affinity 3 Discharge of contract implies a) breach of contract b) retention of contract c) restitution of liabilities d) extinguishing of rights and obligations 4 A material alteration made without the consent of the other will make the whole contract a) void b) voidable c) invalid d) valid 5 In a contract of guarantee, the primary liability is with the principal a) guarantor b) indemnifier c) creditor d) debtor 7 Negotiable instrument means a) payable by delivery b) deliverable instrument c) payable to negotiator d) transferable by delivery
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8 A promissory note is containing a)an unconditional undertaking b)conditional undertaking c)certain undertaking d)payment undertaking 9 A company which controls another company is called a) subsidiary company b) holder company c) statutory company d) holding company 10 To invite public subscription to subscribe to its shares, the company has to issue e) share certificates f) debenture warrants g) legal notices h) prospectus 11 The Information Technology Act has been passed with a view to a) usage of computers b) use of information c) promote efficient delivery of govt. services d) give model law 12 The IT Act among other things, will enable a)legal framework for computer applications b) legal recognition to electronic transaction/ record
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MB0035-Legal_Apects_of_Business-_Model_Question_Paper -...

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